Tag Archives: apple

Tesla Stock Falls As Citron Shorts; IBD 50 Car Chips Gain

Tesla Motors ( TSLA ) stock wiped out an early gain Tuesday to close down almost 3% as short-selling outfit Citron Research panned the electric-car maker, ahead of the planned March 31 introduction of its mass-market Model 3. Meanwhile, chipmakers on the IBD 50 list that work in the connected cars field gained. “Citron shorting $TSLA,” Citron said in an afternoon Twitter ( TWTR ) tweet. “Supply AND demand problems should take down to $100 by years end. News flow all around does not look good for stock.” Citron shorting $TSLA Supply AND demand problems should take down to $100 by years end. News flow all around does not look good for stock — Citron Research (@CitronResearch) March 1, 2016 Tesla stock had been heading up to meet its 50-day line this week, just about touching it before the Citron report, but the electric-car maker holds a low IBD Composite Rating of 22 out of a possible 99. Meanwhile, on Tuesday, Tesla tweeted about how the MIT Technology Review has now ranked its Autopilot self-driving system among the top 10 Breakthrough Technologies of 2016, along with immune engineering and genetic editing of plants. Tesla Autopilot named an MIT @techreview Top 10 Breakthrough Technologies 2016 https://t.co/u3C9gJA0Ba — Tesla Motors (@TeslaMotors) March 1, 2016 Tesla has moved forward with autonomous-car technology, but partner Mobileye ( MBLY ) got hit in December after Citron called the camera-based car safety technology provider its 2016 “short of the year.” Car Chipmakers Go North Mobileye stock closed up 2.2% Tuesday but remained nearly 50% off its August all-time high. Two chipmakers that work in connected cars and self-driving cars on the IBD 50 list of leading growth stocks rose in the stock market today : Nvidia ( NVDA ), which is also a Tesla partner, and Broadcom ( AVGO ). Both companies serve a variety of fields and are Apple ( AAPL ) suppliers. Automakers talked up some of the technology in car debuts at this week’s Geneva International Motor Show — such as Daimler ( DDAIF ) with a Mercedes-Benz E-Class that can brake and park itself. Tesla’s also there, showing off its Model X crossover SUV. Nvidia, which counts Tesla and Mercedes among more than 50 carmaker partners, surged 4.4% Tuesday. Broadcom gained 3.3%, ahead of its Thursday afternoon earnings report. Broadcom stock has been consolidating and is about 8% under a buy point, while Nvidia is about 4% away and has just formed a cup base. Mobileye gets a 62 Composite Rating from IBD. Nvidia gets a best-possible 99 and Broadcom a 98. Other chipmakers also working in the car space rallied Tuesday, too: Qorvo ( QRVO ) by 5.1%, NXP Semiconductors ( NXPI ) by 4.2% and Skyworks Solutions ( SWKS ) 5.9%. Tesla stock closed down 2.9% Tuesday at 186.35. RELATED: Tesla Goes To Geneva Motor Show: What It Means For Model X . Image provided by Shutterstock .

Square Ups Ante In Payments Battle Against PayPal

Hot off the heals of its November initial public offering, Square ( SQ ) has added a feature that will up the stakes in its battle against payments rival PayPal ( PYPL ): Square customers can now store cash in the Square Cash service. Square Cash is a peer-to-peer payments service that lets customers send money to anyone in the U.S. with an email address. It’s designed for things such as paying a friend back for a cab ride, or sharing a restaurant bill. The new feature Square announced Monday is called Cash Drawer, and allows anyone who has the Square Cash app — sending or receiving money doesn’t require the app, just email — to store money and use it to pay people back at a later date. Square stock was up more than 3%, near 11, in afternoon trading on the stock market today . The San Francisco-based firm had a strong first day after making its IPO, with its stock rising 45% that day and touching its still-record high of 14.78, after prices shares at 9. But the stock has mostly fallen since as many bigger companies compete in payments. The new feature makes Square Cash look a lot more like rival PayPal and its peer-to-peer payments subsidiary Venmo, which is popular among millennials . Both PayPal and Venmo already have the capability that Square added Monday. Square Cash is outside the company’s core business, which is a set of digital cash registers and transaction processing, marketing and financial services, which it sells mostly to small businesses. Square CEO Jack Dorsey is also the top boss at microblog Twitter ( TWTR ). Visa ( V ) has a sizeable investment in Square.

Apple Stock Retakes Critical Level As Market Surges

Loading the player… Apple ( AAPL ) made a critical move in the stock market today as the major indexes notched solid gains. The consumer tech giant is set to unveil new products at its March 21 spring media event. Some analysts speculate that Apple will roll out a small-screen iPhone and a smaller-screen iPad Pro. Shares jumped 4% to 100.53 in slightly below-average turnover, retaking the key 50-day moving average. Apple hasn’t traded above that level in nearly three months. The move also puts Apple back above the 100 price level. It’s a good sign for Apple to be coming off of its recent lows, but it’s also good to remember that its 50-day line is sloping downward as Apple’s overall performance over the last several months has trended lower. The stock is currently trading about 25% below its all-time high, reached last April. Apple is currently battling a federal order to assist the FBI in unlocking an encrypted iPhone connected to the terrorist attack in San Bernardino, Calif. Meanwhile, Facebook ( FB ) is continuing higher as it bounces back from a breach of its 50-day line about a month ago. The stock is now trading 6% below its high. Google owner Alphabet ( GOOGL ) was able to retake its 50-day line, rising 3.5% in above-average volume Tuesday. Alphabet is about 8% below its high. Microsoft ( MSFT ) tried to retake its 50-day line and closed the session right at that level. Other recent attempts to retake that level met resistance. Microsoft is 7% below its peak. Amazon ( AMZN ) is 16% below its high. The e-commerce giant was able to retake its 200-day line last week. Image provided by Shutterstock .